Setup - Either PR or anticipation of good earnings report soon suggesting a long position
Daily chart - 2-day bullish trend, breaking the upper BB. It is completely out of the BB at the end of today's market hours and looks like a parabolic short for tomorrow.
Intraday (1-min) - I watched it on a 1-min chart just because I wasn't sure which way it would go being so up and it's the morning volatility that can be quite a puzzle. It made an opening range (open at $4.20), got sold out to $3.95, and buyers came in and pushed it back up. I bought it at $4.15 on the upside anticipating a breakout over $4.20. Again, Fous calls it a F1 pattern and he too watches it on a 1-min chart.
Entries: $4.15
Stop loss: $ $4.02 (right under 9 EMA on 1 min, risking 13c)
Target: $4.40is ($4.41 to be at 2:1 r/r)
Exit: sold half into the next candle spike; rest sold at around the buy
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-25 09:33:39 | BIOC | buy | $4.150 | long |
2015-02-25 09:34:50 | BIOC | sell | $4.350 | long |
2015-02-25 09:36:46 | BIOC | sell | $4.193 | long |
2015-02-25 09:36:46 | BIOC | sell | $4.190 | 0 |
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